Energy Vault Holdings, Inc. (NYSE:NRGV) Stock Has Average Target Price of $6.01

Shares of Energy Vault Holdings, Inc. (NYSE:NRGV) have been given an average recommendation of “Hold” by the seven research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $6.01.

Several research analysts have issued reports on the company. Citigroup boosted their target price on Energy Vault from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Wall Street Zen lowered Energy Vault from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Weiss Ratings lowered Energy Vault from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. Roth Capital restated a “buy” rating and set a $7.00 target price (up from $5.00) on shares of Energy Vault in a research report on Wednesday, August 12th. Finally, Zacks Research upgraded Energy Vault from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th.

Energy Vault Trading Down 4.2%

Shares of NYSE:NRGV traded down $0.17 during trading hours on Friday, hitting $3.78. 684,267 shares of the company’s stock traded hands, compared to its average volume of 4,493,698. Energy Vault has a 1 year low of $2.50 and a 1 year high of $6.64. The business has a fifty day moving average price of $3.76 and a 200-day moving average price of $4.02. The firm has a market capitalization of $686.45 million, a P/E ratio of -5.73 and a beta of 1.25. The company has a debt-to-equity ratio of 24.07, a current ratio of 1.19 and a quick ratio of 1.19.

Energy Vault (NYSE:NRGV) last announced its earnings results on Tuesday, August 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.03). Energy Vault had a negative net margin of 48.58% and a negative return on equity of 236.83%. The business had revenue of $17.37 million for the quarter, compared to analysts’ expectations of $14.24 million. Equities analysts expect that Energy Vault will post -0.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stephanie Unwin sold 115,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $3.71, for a total value of $426,650.00. Following the completion of the sale, the director owned 182,245 shares in the company, valued at approximately $676,128.95. The trade was a 38.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dylan Hixon purchased 27,472 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average price of $3.88 per share, with a total value of $106,591.36. Following the acquisition, the director directly owned 27,472 shares of the company’s stock, valued at $106,591.36. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 17.20% of the stock is currently owned by insiders.

Institutional Trading of Energy Vault

A number of large investors have recently modified their holdings of NRGV. Forte Asset Management LLC purchased a new stake in shares of Energy Vault in the first quarter valued at approximately $33,000. Calamos Advisors LLC purchased a new stake in shares of Energy Vault in the first quarter valued at approximately $48,000. Quantbot Technologies LP purchased a new stake in shares of Energy Vault in the second quarter valued at approximately $50,000. Miller Howard Investments Inc. NY purchased a new stake in shares of Energy Vault in the first quarter valued at approximately $51,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Energy Vault in the second quarter valued at approximately $57,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Energy Vault Company Profile

Energy Vault Holdings, Inc (NYSE: NRGV) develops and deploys long-duration energy storage systems designed to help utilities, renewable energy developers and industrial customers store electricity and improve grid reliability. Its solutions are intended to complement intermittent renewable power sources such as wind and solar by storing energy when supply is abundant and releasing it when demand is higher.

The company’s portfolio includes gravity-based energy storage systems, which use mechanical structures and heavy materials to store and release energy, as well as battery energy storage solutions.